Why should a business engaged in merchandising always try to negotiate with its vendors, the shipping terms of FOB Destination
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Why should a business engaged in merchandising always try to negotiate with its vendors, the shipping terms of FOB Destination
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- Which of the following is not a characteristic of FOB Destination? A. The seller pays for shipping. B. The seller owns goods in transit. C. The point of transfer is when the goods leave the sellers place of business. D. The point of transfer is when the goods arrive at the buyers place of business.Which of the following is not a characteristic of FOB Shipping Point? A. The buyer pays for shipping. B. The buyer owns goods in transit. C. The point of transfer is when the goods leave the sellers place of business. D. The point of transfer is when the goods arrive at the buyers place of business.Which one of the following documents is not needed to process a payment to a vendor? A. vendor invoice B. packing slip C. check request D. purchase order
- The functions of and documents generated by which of the below departments determine when a wholesaler that ships goods to customers has the right to record a sale? Question options: The receiving department The credit department The customer order department The shipping departmentWhen a store purchases merchandise, why are individual departments not allowed to directly deal with suppliers?In comparing the accounts of a merchandising company with those of a service company, what additional accounts would the merchandising company likely use, assuming it employs a perpetual inventory system?
- What is Sales Mix and why is it used in retail operations?What is the business name of the vendor (seller)? How do you know this? (using the image)Which one of the following statements best describes the purpose of a purchase order? It is issued to a supplier to request supply of goods from them on terms specified within the order A It is issued to a customer to confirm the supply of goods to them on terms specified in the order В It is issued to a supplier as notification of payment It confirms the price that will be charged by a supplier for goods supplied C D
- In comparing the accounts of a merchandising company with those of a service company, what additional accounts would the merchandising company likely use, assuming it employs a perpetual inventory system? Which financial statements would these accounts appear on?Which one of the following documents is not needed to process a payment to a vendor? Group of answer choices 1.vendor invoice 2.packing slip 3.check request 4.purchase orderExplain the difference between external transactions and internal transactions. If a company purchases supplies from a local vendor, would this be classified as an external or internal transaction?